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Coursework dragged on and I got loans to pay for school. It was worth it, but over time interest rates grew higher than my undergraduate loan — plus, Uncle Sam wasn’t shy about handing out money.
Since 2022, MOHELA has been tasked with handling student loan payments from borrowers who are seeking debt cancellation from the Public Service Loan Forgiveness program, which wipes away remaining ...
The Department of Education announced Monday that it is withholding millions of dollars in payment to the student loan servicer Missouri Higher Education Loan Authority (MOHELA) over billing ...
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
The Higher Education Loan Authority of the State of Missouri (MOHELA), a federal loan servicer, failed to send timely billing statements to 2.5 million borrowers, officials said in an Oct. 30 news ...
Federal Perkins loans, a need-based student loan; PLUS loans, which are part of the Federal Direct Student Loan Program; Federal GradPLUS loans; Federal student loan consolidation; Number of student loans serviced. In a letter to members of the U.S. Senate, MOHELA stated that it serviced 2,464,028 student loan borrowers on February 1, 2020 ...
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt.
With student loan forgiveness still uncertain, borrowers can expect more changes -- and perhaps some potholes -- on the road to paying down student loan debt. As part of the Biden administration's...
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